The chairperson of the Suez Canal Authority and the Suez Canal Economic Zone, Mohab Mamish, announced that the Suez Canal Special Economic Zone (SCZone) achieved a net profit of EGP 2.13bn in fiscal year (FY) 2017/2018 , which ended in June 2018, an increase of 64% compared to FY 2016/2017 which amounted to EGP 1.3bn.

Mamish said, “The official statistics showed that the SCZone occupies the fifth place in the list of the most profitable economic zones. Further, the revenues of the ports of the SCZone have witnessed popularity of traffic last year, as well as the result of projects and contracts concluded by authority since November 2017, especially after the signing of six agreements during the World Youth Forum in Sharm El-Sheikh.

In this context, Mamish stressed that the SCZone will become a global center for trade and logistics in the most important regions of the world, and through the policies, Egypt aims to push economy forward by 2025, especially with regard to the development of ports.